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Baltimore, Maryland; General Obligation Oct 08
Standard & Poors, Oct 2008
Abstract
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating, with a stable outlook, to Baltimore, Maryland's general obligation (GO) bonds series 2008C and 2008D. In our opinion, we base the rating on the following credit factors: A steady trend of economic expansion that has expanded the city's tax base and also improved its demographic profile. Favorable economic trends have benefited the city's revenues and reserve levels. While recent challenges have emerged in the housing market, the city's tax and revenue base has been relatively stable; Strong financial and debt management policies, which have contributed to the city's increased financial reserves and flexibility; Low-to-moderate debt levels and a well-defined long-term capital plan; and Active management of pension and other postemployment...
Companies mentioned in this report are: Baltimore Mayor & City Council
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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